An "overwhelming" number of ballots mailed by Teamsters at YRC Worldwide is slowing the count in a vote on changes to the National Master Freight Agreement that may determine the future for the nation's largest less-than-truckload carrier.
The Teamsters union said it hoped the ballots would be counted and the results announced Aug. 7. Originally, the results were expected Aug. 6.
Teamsters at YRC, Holland and New Penn are voting on a proposed wage and benefits reduction package that would save financially troubled YRC Worldwide $45 million a month this year and $50 million a month in 2010.
If the plan is approved, wages would be cut 15 percent and all pension contributions would be suspended for 18 months.
In return, the Teamsters would gain a seat on YRC Worldwide's board, an option to purchase up to 35 percent of the company's stock and greater say over its operations and partnerships and acquisitions.
If it is approved, the plan's provisions would be put into effect quickly. Teamsters at other YRC units covered by separate contracts would vote on the wage and benefits cuts within 30 days.